By: Isuru Parakrama
Colombo (LNW): The Monetary Board of the Central Bank of Sri Lanka (CBSL) has decided to not to renew the money-changing permits of 15 money changer (MC) companies for the year 2023, in what it described as non-compliance with a condition of the permits issued for the year before.
These MC companies are;
- Aruna Forex (Pvt) Ltd.,
- Brescia Grameen (Pvt) Ltd.,
- Jeya Forex Exchange (Pvt) Ltd.,
- Kamal Enterprises (Pvt) Ltd.,
- Kudamadu Money Exchange (Pvt) Ltd.,
- Midna Mini Market (Pvt) Ltd.,
- New Lanka Gold House (Pvt) Ltd.,
- Rafeek’s Gems (Pvt) Ltd.,
- Rimha Jewellers (Pvt) Ltd.,
- Salaka Trust Invesmements (Pvt) Ltd.,
- Sharanga Money Exchange (Pvt) Ltd.,
- Sornam Forex (Pvt) Ltd.,
- Thamasha Forex (Pvt) Ltd.,
- Universal Money Changers (Pvt) Ltd., and
- Vasanthas International Money Exchange (Pvt) Ltd.
The Monetary Board added that the relevant conditions were communicated to the said MCs on February 22, 2023, but they had failed to comply, and therefore, are longer permitted to engage in money-changing activities, and buying and selling.
Exchanging foreign currency with such companies are considered as a contravention of the provisions of the Foreign Exchange Act No. 12 of 2017, it added.
